Jim Chanos, Founder and Managing Partner of Kynikos Associates LP speaks at the Reuters Global Investment Outlook summit at the Thomson Reuters building in New York, November 19, 2013. REUTERS/Mike Segar/File PhotoTSLA +0.30% Add to/Remove from Watchlist US500 +0.13% Add to/Remove from Watchlist(Reuters) -After nearly four decades, Jim Chanos is shutting down hedge funds he manages that wager against companies he believes are overpriced or fraudulent, the Wall Street Journal reported on Friday. His firm, Chanos & Co, manages less than $200 million today, down from $6 billion in 2008, the report said. In February, Chanos unveiled a short position in General Electric (NYSE: ) Co, adding the company's fair value was "way below" its current stock price. Shares in General Electric are up 83.4% this year.

Source: Wall Street Journal November 18, 2023 00:43 UTC